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§ Private Profile · Indianapolis, IN, USA
Manufacturer of biobased synthetic estolide base oils and additives for lubricants, metalworking fluids, and personal care.
Based in Indianapolis, Indiana, Biosynthetic Technologies manufactures biobased synthetic estolide base oils and chemical additives derived from organic fatty acids found in plant and vegetable oils. The company produces high-performance, renewable, and biodegradable alternatives to traditional petroleum-based oils for commercial applications across the lubricant, metalworking fluid, cosmetics, and personal care industries. Operating with a dedicated workforce of 16 total employees, the enterprise has secured $50.73 million in total funding to date, which includes a $7.5 million Series A-II financing round completed in early 2023. Functioning as a subsidiary of Calumet Specialty Products Partners, the firm utilizes patented technology licensed exclusively from the USDA and is backed by prominent corporate shareholders including Sime Darby, BP, Monsanto, and Evonik. Previously operating under the name LubriGreen Biosynthetics before a corporate rebranding, the organization was officially founded in 2013.
Biosynthetic Technologies has raised $18.0M across 2 funding rounds.
Biosynthetic Technologies has raised $18.0M in total across 2 funding rounds.
Biosynthetic Technologies has raised $18.0M across 2 funding rounds. Most recently, it raised $8.0M Series A in February 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 1, 2022 | $8M Series A | HG Ventures | — | Announced |
| May 1, 2019 | $10M Series A | — | HG Ventures | Announced |
Biosynthetic Technologies is a technology company specializing in sustainable, biobased synthetic base oils and additives called estolides, derived from organic fatty acids in bio-derived oils like castor. These high-performance products serve as drop-in replacements for lubricants in industrial applications (e.g., gear oils, hydraulics, grease, metalworking fluids), personal care (e.g., emollients with enhanced stability and moisturization), and food-grade uses, targeting manufacturers seeking environmentally friendly alternatives without sacrificing performance.[1][2][4][5] Operating as a subsidiary of Calumet Specialty Products Partners since around 2013 (formerly LubriGreen Biosynthetics), the company demonstrates growth through a 25,000-gallon/year facility, Series A-II funding, and partnerships like Albemarle, while expanding into beauty via BioEstolides™ that are REACH-registered, kosher, vegan, and halal certified.[1][3][4]
Founded in 2009 (with some records noting 2013 post-rebranding from LubriGreen Biosynthetics, LLC), Biosynthetic Technologies emerged from patented USDA technology to restructure oleic acids into estolides using continuous flow processes.[1][3] The idea stemmed from addressing sustainability gaps in lubricants and chemicals, leveraging bio-derived feedstocks for superior performance over petroleum-based options. Early traction included a demonstration facility in Baton Rouge, LA (with partner Albemarle), collaborations with three of the top four U.S. motor oil producers, and a 2016 $115 million government loan guarantee commitment for a 20 million gallon/year commercial plant (targeting construction in late 2016, scaling by 2018).[3] Headquartered in Indianapolis, IN (with addresses in Irvine, CA), it evolved into a Calumet subsidiary, shifting focus from biofuels to commercial estolide production amid rising bio-materials demand.[1][2][3]
Biosynthetic Technologies rides the bio-based materials and advanced chemicals trend, capitalizing on global shifts toward sustainable alternatives amid fossil fuel depletion, stricter regulations (e.g., REACH), and corporate ESG mandates in lubricants ($150B+ market) and personal care.[1][2][4] Timing aligns with post-2010s bioeconomy growth, where drop-in biofuels/chemicals enable easy adoption without retooling—evident in their USDA-patented estolides matching or exceeding Group III+ synthetics.[3] Market forces like rising bio-feedstock availability (e.g., castor oils) and demand from automotive, manufacturing, and beauty sectors favor them, influencing the ecosystem by proving bio-oils can disrupt petroleum dominance, as seen in partnerships with majors and loan guarantees signaling policy support.[1][3][4]
Biosynthetic Technologies is poised for expansion via its Calumet backing, potential commercial plant activation (post-2018 plans), and diversification into high-margin personal care amid sustainability booms.[1][3][4] Trends like circular economies, bio-manufacturing scale-up, and green chemistry regs will propel estolides into more formulations, potentially boosting revenue from $0 (2016 est.) toward multimillion volumes.[2][3] Their influence may evolve from niche innovator to key supplier in a $ multi-billion bio-lubricants space, reinforcing that biobased synthetics like estolides deliver sustainability without compromise—echoing their core mission since inception.[1][2][4]
Biosynthetic Technologies has raised $18.0M in total across 2 funding rounds.
Biosynthetic Technologies's investors include HG Ventures.